Best Offer






11,513 SF




El Toro Square

24280 – 24310 Swartz Dr | Lake Forest, CA

The Offering

Marcus and Millichap is pleased to present El Toro Square in Lake Forest, California. The real estate consists of two properties located at the Interstate 5 Freeway and north bound El Toro freeway exit. El Toro Square benefits from its high profile freeway exposure where traffic counts exceed 354,000 cars per day and its proximity to El Toro Road where average daily traffic exceeds 62,000 cars per day. This location in Lake Forest and El Toro road is considered one of Orange Counties most heavily trafficked dense retail trade areas, where virtually every national retailer and restaurant wants to be located. The location is home to over 2 Million square feet in 1 square mile. Nearby retail centers include Lake Forest Marketplace a 110,000 square foot center anchored by Guitar Center
and 99 cents, The Orchard, a 280,000 square feet institutional shopping center anchored by Ralphs, Petsmart, HomeGoods, Ulta and a variety of restaurants and The Arbors, a 157,000 square foot property anchored by Home Depot, Chipotle and Peet’s Coffee.

The property is 100% stabilized with ease of management consisting of only 6 tenants on NNN leases. Two long term tenants include Tommy Burger’s (corporate lease) with drive thru and Arthur Murray Dance Studio (20 plus year occupancy). The offering is a leasehold interest allowing for 100% depreciation with ground rent of $10.00 per annum, with no fair market value adjustments throughout the entire lease term. The ground lease
has 87 years remaining at $10.00 per year with no fair market adjustments. This  investment provides all the benefits of a leasehold property (100% depreciation and an above market yield) without onerous fair market value adjustments, seen in virtually all leasehold properties. The property is being offered unpriced.

Investment Highlights

  • Major Retail Destination
  • Ease of Management Property – 6 Tenants on NNN Leases
  • 100% Depreciable Asset – No Fair Market Value Adjustments
  • Lake Forest, California. I-5 Freeway Dense Infill Location
  • 354,000 Daily Traffic on I-5, 62,000 Daily Traffic on El Toro Rd
  • $130,309 AHHI in 5-mile Radius. 370,000 Population in 5-mile Radius

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